 WOT! Any CPA's Around?, Taxes taking 914 money? |
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| okieflyr |
 Feb 8 2006, 06:33 PM
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#1
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9fauxteen  Group: Members Posts: 816 Joined: 9-January 05 From: Phila PA Member No.: 3,426 Region Association: North East States  |
I've got a question regarding a 1099 Misc. I think I'm seeing a change from previous years in respect to paying SE tax? (IMG:http://www.914world.com/bbs2/html/emoticons/headbang.gif) Is there a change for 05? Thanks.... KB
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| okieflyr |
Feb 9 2006, 07:29 AM
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#2
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9fauxteen Group: Members Posts: 816 Joined: 9-January 05 From: Phila PA Member No.: 3,426 Region Association: North East States |
Understandingly busy I"ll guess...... KB
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| blitZ |
Feb 9 2006, 07:35 AM
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#3
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Beer please... Group: Members Posts: 2,223 Joined: 31-August 05 From: Lawrenceville, GA Member No.: 4,719 Region Association: South East States |
I'm also self employed 1099. You really should find an accountant. Our returns are fairly complex and their are tons of things you could probably be taking advantage of, which a good accountant can point out. Besides, the fee you pay your accountant is tax deductible as a business expense.
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| Dead Air |
Feb 9 2006, 10:25 AM
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#4
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Senior Member Group: Members Posts: 1,268 Joined: 9-May 04 From: Buffalo, NY Member No.: 2,042 |
My girlfriends a CPA. I'll ask her tonight.
And she has started her own business after 19 years in a large local office. |
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| dweymer |
Feb 9 2006, 10:43 AM
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#5
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Member Group: Members Posts: 110 Joined: 22-November 05 From: orlando, fl Member No.: 5,167 |
I believe the only change is the upper limit subject to SE tax.
http://www.irs.gov/publications/p334/ch01.html#d0e1165 Please see a CPA, and not just an accountant(which I am). CPAs are required to maintain certain continuing ed, and usually they take a tax update course each year and subscribe to many trade journals which detail the changes. They not only will give you great advice for your taxes, they are more liable as paid preparers=cya. Donnie |
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| okieflyr |
Feb 9 2006, 01:59 PM
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#6
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9fauxteen Group: Members Posts: 816 Joined: 9-January 05 From: Phila PA Member No.: 3,426 Region Association: North East States |
Thanks for the input and links guys. The 1099misc was only a lesser portion of my income last year, but it appears to have added complications for which I'm not qualified to sort out, and stay out of trouble....
Now to find a CPA.... KB |
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| winterkornj |
Feb 9 2006, 09:44 PM
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#7
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914 Apprentice Group: Members Posts: 58 Joined: 31-July 03 From: Cincinnati, OH Member No.: 970 |
PM me I am a CPA
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